What is a Business Metric? Ask Competitive Solutions, Inc.

Accountability Workshop

Competitive Solutions, Inc. discusses Business Metrics

"What is a Business Metric? How can I use a metric for my business?"

CSI Methodology � Creating and Sustaining a Culture of Accountability Through the Use of Non-Negotiable Processes and Properly Defined Business Metrics
- - - - - - - - - - - - - - -

As defined by www.whatis.com - A business metric is any type of measurement used to gauge some quantifiable component of a company's performance, such as return on investment (ROI), employee and customer churn rates, revenues, EBITDA, and so on. Business metrics are part of the broad area of business intelligence, which comprises a wide variety of applications and technologies for gathering, storing, analyzing, and providing access to data to help enterprise users make better business decisions. Systematic approaches, such as the balanced scorecard methodology, can be employed to transform an organization's mission statement and business strategy into specific and quantifiable goals, and to monitor the organization's performance in terms of achieving those goals.

Competitive Solutions, Inc. (CSI) believes to sustain a culture of accountability, an organization needs to create, document and audit critical business systems that support an accountability mindset. For more than 18 years, Competitive Solutions, Inc.� has been successfully helping companies improve how they run their organizations using a proven process that drives focus, urgency, and accountability. CSI�s vast knowledge and experience, which is specialized in business scorecards, will deliver immediate and sustainable results in virtually every type of organization. The experts at CSI can help you define your unique business metrics and bring business success to your company with specialized training in Business Scorecards, Balance Scorecards, PBL ScoreCard� Software Training, and Process Based Leadership� Training.

For the last 18 years CSI has been dedicated to driving cultures of accountability through the creation and deployment of business focus processes necessary to create and sustain focus on the key elements crucial to the success of any organization. These elements are:
1. A clear and concise business knowledge and focus
2. Sense of urgency through attitude and action to support the business focus
3. Visible and auditable business scorecard systems essential in sustain business acumen and urgency

Play Now - Play Time: approx. 4 minutes
The Action Register tool provides a mechanism to Bring Visibility to Accountability.
- - - - - - - - - - - - - - -

CSI strongly feels that organizations need non-negotiable business metric systems that promote and sustain the culture described above. These non-negotiable business metrics systems must be created, systematized and deployed throughout the organization. When discussing business metrics, many people make the mistake of only looking at the end result. CSI believes that the process by which you achieve and sustain impactful business metrics builds the foundation for all future endeavors. Failure to design and deploy sustainment processes often results in an organization continuing to operate in a "blame" mode that is perceived by the workforce as a lack of true commitment to the culture of accountability.

Integration of CSI�s Business Focus processes into any organization will achieve the following benefits:

Agreed upon business scorecard processes necessary to sustain high performance

Business scorecard processes that link customers and suppliers to promote a better understanding of expectations and performance

Evaluation mechanisms tied to the business metrics processes to promote timely and meaningful feedback

Visible and auditable tools that allow accountability to be driven and monitored throughout the organization

Business Metric mechanisms that are integrated into the organization, so that all forums have both a sense of urgency and a clear purpose

Business Metric systems that move from blame to shared responsibility

Integrated performance management processes designed to create and sustain meaningful performance feedback

A structure for accountability through meaningful business metrics that ties directly to the key business drivers

Play Now - Play Time: approx. 10 minutes
Leaders can build trust and place accountability back where it belongs.
The Personal Action Register tool cultivates true empowerment for employees.
- - - - - - - - - - - - - - -

Add to Del.icio.us